Maitland Group

Maitland

Company type	Privately owned, independent company
Key people	Steven Georgala (Chief Executive Officer)
Services	Fund administration services
Number of employees	475+
Website	www.maitlandgroup.com

Maitland is a privately-owned and fully independent leading international fund services provider for traditional, alternative, and mutual funds across all fund types, strategies, and investment styles. The business has in excess over $200 billion in assets under administration and $17 billion in assets under management, and is privately owned by management and staff, with services from 4 offices worldwide.

History

Steven Georgala, CEO of the Maitland group since 2006.

Maitland was founded in 1976 in Luxembourg by the late Eric Pfaff, a South African lawyer. The group provided legal and tax expertise to South African corporates, including Anglo American plc and De Beers. In due course the executives of those corporates asked for private client services and they started offering offshore services. In 1982 Maitland acquired a fiduciary business in Geneva.

In 1988, in anticipation of the UCITS directive being adopted by Luxembourg, the firm established a SICAV called Royal Trust Assetmix – one of the first of such funds. The firm also opened their London office in 1988.

In 1989, the firm set up its first hedge fund which was listed on the Irish Stock Exchange.

In 2002, the firm converted from a law firm partnership to adopt the form of a company.

In 2005 Maitland acquired FinSource, a fund administration company based in Cape Town, South Africa, which allowed them to offer sophisticated institutional fund administration services globally from South Africa.

In July 2012, the firm acquired a management company InterOcean Management Services in Mauritius.

In November 2012, the firm acquired Admiral Administration, a specialist hedge fund administrator in the Cayman Islands, along with its hedge fund technology platform "Advent".

In 2014, the firm’s Luxembourg offices introduced Manco services, as well as expanding the Luxembourg fund services offering for alternative assets.

In June 2015, Maitland acquired leading UK-based fund administrator Phoenix Fund Services. This acquisition extended the firms Fund Administration and Transfer Agency offering and increased its scope of services in the UK to include ManCo and CoSec (Investment trusts).

In 2017, Maitland acquired R&H Fund Services (Guernsey) Limited.

Maitland initiated its robotic process automation (RPA) journey in 2018.

In 2020, MUFG Investor Services acquired select divisions of the firms fund administration business in the Cayman Islands, Halifax, and Dublin.

In 2021, Stonehage Fleming acquired Maitland’s Private Client and Corporate Services business. This transaction was a key step in the refinement of Maitland’s services offering which is now dedicated to Fund Services and Management Company Services.

In 2022, Maitland’s assets under administration broke through the $200 billion milestone.

Operations

Maitland’s holding company, Maitland International Holdings, is registered in Malta.

Maitland’s 475 employees serve the business client base of traditional, alternative (hedge, infrastructure, and private equity), and mutual funds. The company operates 4 offices in South Africa, the United Kingdom, Guernsey, and Luxembourg. Maitland’s fund administration hub is based in the lower-cost jurisdiction of South Africa.

Management

A group of senior staff members selected from key areas of the business form the Executive Committee and assist the Board in implementing its strategies.

The Chairman of the Board is David Hathorn and the Chief Executive Officer is Steven Georgala.

Jon Hugill is the managing director of Maitland global fund services, and Patric Foley-Brickley managing director of ManCo businesses.

Acquisition deals

2005. Acquisition of FinSource Fund Administration.

2012. Acquisition of Admiral Administration.

2015. Acquisition of Phoenix Fund Services.

2017. Acquisition of R&H Fund Services (Guernsey) Limited.

2020. MUFG Investor Services acquired select divisions of Maitland’s fund administration business.

2021. Stonehage Fleming acquired Maitland’s Private Client and Corporate Services business.

Corporate social responsibility

Maitland supports LEAP Science & Maths Schools, an organisation that provides student-centred, maths- and science-focused education to economically disadvantaged students from grades 8 to 12 in South Africa.

Maitland is a Lifetime Founder Club Member of the Nelson Mandela Children's Fund. - In 1996 Maitland set up the UK affiliate for the fund which it provides financial and legal support, office space and infrastructure services. Its lawyers act on a pro bono basis for the fund.

The business partnered with Khulisa Social on a global mentorship programme which aims to identify challenges within Luphisi, a rural town in Mpumalanga, South Africa, and engage with its youth to find solutions and initiate action plans to overcome these challenges. This programme sees Maitland employees mentor youth in a rural town in South Africa.

The Ditikeni Trust owns 10% of Maitland’s South African fund services business.The financial benefits of this trust flow to 22 non-profit beneficiary organizations operating in South African rural communities.

Maitland proudly supports the Womandla Foundation in their mission to empower South Africa’s women and girls by building sustainable communities. The Foundation is focused on informing, equipping and inspiring women in Africa. It will serve as a platform which broadcasts interesting content, coordinating events which up-skills and trains women for their economic development and inspires them to contribute to society.

Maitland is also a proud supporter of the MCC 750 Sports Club, whose mission is to work with the people of Masiphumelele and key partners, offering opportunities through education and enterprise, to help residents progress out of poverty towards a sustainable livelihood.

External links

• Official web site